ISSUE 22 | APRIL 2014
INVESTMENT • INSURANCE • SUPERANNUATION • Health Insurance • KiwiSaver
Welcome from the team
Greetings from the team at CFS. This year brings forth another election and I wish to provide in this newsletter
some comic observations and a little cutting commentary on a situation where promises and statements will be
gleefully reported without any investigation or balance, and this is just the election of the President at our local
Tennis and Squash club!
Seriously though, we aim to provide another newsletter that brings both a smile and some thought provoking
discussion. Enjoy and if we do cause some angst please call or email us, we’re here to provide solutions as well.
Does My Life Insurance
Have A Cash Value?
Political headlines
we can expect this
year:
‘WE PROMISE TO KEEP
Many of you may have such
polices that perhaps your parents
purchased for you, or you
purchased many years ago because
your parents advised it!
I know I did.
ELECTRICITY PRICES DOWN’ Meaning – The electricity companies
that we own a controlling interest in will
not be able to make a profit and you the
taxpayer will be taxed to make up the
difference. Rather than user pays, we’ll
make sure the middle-income earners
pay for everyone.
Such a policy was the only form of life
insurance prior to the 1980s in NZ, until
the new form of life insurance was sold,
a term policy that offered life insurance
for as long as you paid a premium
and when you thought no insurance
was required the policy was cancelled
without any cash back.
Without arguing the relative merits of
the policies many of you have them
and many of you may be missing the
investment opportunities they still
possess. Essentially if they form a part of
estate planning and you wish for them
to remain in place until you die, then no
change is required; however if you do
not require this amount of life insurance
after a particular age then a conversion
option exists whereby you can maximise
the cash back value of your policy by
converting to an Endowment policy.
‘WE’LL BUILD MORE HOUSES AND
MAKE THEM AFFORDABLE FOR
EVERYONE’ Meaning – We’ll feather the nests of
everyone in this industry from banks to
builders and if you’re not attached to
this industry then good luck, buy a dairy
farm!
‘WE’LL MAKE SURE BUSINESS
SHARES PROFITS WITH THE
WORKERS’
If such an option is worth exploring
please call us, either Adam or Yupar will
be more than happy to discuss the pros
and cons.
Meaning – Union power will be
increased with an extra layer of
administration and all of this will be
funded by the middle-income earners
because they cannot avoid/evade PAYE
tax increases. The wealthy will hire tax
experts and spend the intended tax on
avoiding the tax!
Political
headlines
we’d like to
see this year
or any year:
About
Politicians:
“Suppose you were an idiot. And
suppose you were a member of
parliament. But I repeat myself’.
- Mark Twain, (paraphrased for New
Zealand)
‘A government which robs Peter to pay
Paul can always depend on the support
of Paul’.
- George Bernard Shaw
“A politician needs the ability to foretell
what is going to happen tomorrow, next
week, next month, and next year. And to
have the ability afterwards to explain why
it didn’t happen.” - Winston Churchill
GOVERNMENT: WE’LL
ONLY SPEND WHAT THE
TAXPAYERS PROVIDE,
AND BE ACCOUNTABLE’
Meaning – We’ll live like every other
family, business or individual member of
society; within our means! If we don’t,
we’ll resign!
‘KIWISAVER IS NOW
COMPULSORY’
Meaning – Everyone with an
active interest in their future will be
unconcerned because they are already
enrolled, however the state will impose
itself on those without the wherewithal to
recognise a great deal when they see it.
Media
Headlines
We’ll never read
•
‘Welfare Benefits For The Needy, Not
The Lazy’
•
‘Business Story With Balance’
•
‘Sports Star Talks About Strategy And
Gamesmanship, Not A Mention Of
Money Or Spirituality’
•
‘Bank Provides Funding For
Investments Unrelated To Housing’
•
‘Prime Minister Makes A Decision And
Ignores Poll’
•
‘Family Rue Decision Not To Insure’
“All Congresses and Parliaments
have a kindly feeling for idiots, and a
compassion for them, on account of
personal experience and heredity.”Mark Twain
“The best argument against democracy
is a five-minute conversation with the
average voter.” - Winston Churchill
“Politics is the art of looking for trouble,
finding it everywhere, diagnosing it
incorrectly, and applying the wrong
remedies.” - Groucho Marx
“Everyone is in favor of free speech.
Hardly a day passes without its being
extolled, but some people’s idea of it is
that they are free to say what they like,
but if anyone else says anything back,
that is an outrage.” - Winston Churchill
“I am quite sure now that often, very
often, in matters concerning religion
and politics a man’s reasoning powers
are not above the monkey’s.”
- Mark Twain
‘And now at this point in the meeting I’d like to shift the blame away from
me and onto someone else’
CFS represents the following companies:
AIA, AMP, ANZ Investments, Asteron, Dorchester, Fidelity, Fisher Funds, Grosvenor, Nib, OnePath, Partners Life,
Southern Cross, Sovereign.
PO Box 12004 1 Olive Road Penrose. P 09 525 7022 F 09 525 7024 E [email protected] www.curreyfinancial.co.nz
INVESTMENT • INSURANCE • SUPERANNUATION • Health Insurance • KiwiSaver